West Fraser Timber Co. Ltd. (NYSE:WFG) Shares Acquired by Smead Capital Management Inc.

Smead Capital Management Inc. raised its stake in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 5.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 118,108 shares of the company's stock after buying an additional 5,743 shares during the period. West Fraser Timber comprises 0.2% of Smead Capital Management Inc.'s holdings, making the stock its 28th biggest holding. Smead Capital Management Inc. owned about 0.15% of West Fraser Timber worth $11,507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in WFG. Park Place Capital Corp purchased a new stake in West Fraser Timber in the 2nd quarter valued at about $31,000. Signaturefd LLC boosted its position in West Fraser Timber by 60.0% in the 2nd quarter. Signaturefd LLC now owns 496 shares of the company's stock valued at $38,000 after buying an additional 186 shares during the period. Ensign Peak Advisors Inc purchased a new stake in West Fraser Timber in the 2nd quarter valued at about $44,000. UniSuper Management Pty Ltd boosted its position in West Fraser Timber by 100.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 800 shares of the company's stock valued at $69,000 after buying an additional 400 shares during the period. Finally, US Bancorp DE boosted its position in West Fraser Timber by 82.9% in the 3rd quarter. US Bancorp DE now owns 1,284 shares of the company's stock valued at $125,000 after buying an additional 582 shares during the period. 40.23% of the stock is owned by hedge funds and other institutional investors.

West Fraser Timber Trading Down 0.7 %

Shares of WFG traded down $0.68 during mid-day trading on Tuesday, hitting $92.46. The company's stock had a trading volume of 72,526 shares, compared to its average volume of 158,561. The company's 50-day moving average is $94.85 and its 200-day moving average is $86.26. West Fraser Timber Co. Ltd. has a 52-week low of $72.35 and a 52-week high of $102.40. The firm has a market capitalization of $7.42 billion, a price-to-earnings ratio of -72.23 and a beta of 1.18.

West Fraser Timber (NYSE:WFG - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The company reported ($1.03) EPS for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.87). West Fraser Timber had a negative net margin of 1.53% and a positive return on equity of 0.53%. The firm had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.45 billion. During the same period in the previous year, the company earned $1.81 EPS. As a group, sell-side analysts predict that West Fraser Timber Co. Ltd. will post 0.95 earnings per share for the current fiscal year.

West Fraser Timber Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Thursday, September 26th were given a dividend of $0.237 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $0.95 dividend on an annualized basis and a yield of 1.03%. West Fraser Timber's payout ratio is -74.22%.

Analyst Upgrades and Downgrades

WFG has been the subject of several research reports. Scotiabank boosted their price objective on shares of West Fraser Timber from $100.00 to $120.00 and gave the company a "sector outperform" rating in a research report on Friday, October 25th. Royal Bank of Canada upped their price target on shares of West Fraser Timber from $97.00 to $100.00 and gave the stock an "outperform" rating in a research report on Friday, July 26th. Finally, BMO Capital Markets upped their price target on shares of West Fraser Timber from $105.00 to $115.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 22nd. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, West Fraser Timber currently has an average rating of "Buy" and a consensus target price of $111.60.

About West Fraser Timber

West Fraser Timber Co Ltd., a diversified wood products company, engages in manufacturing, selling, marketing, and distributing lumber, engineered wood products, pulp, newsprint, wood chips, and other residuals and renewable energy. It offers spruce-pine-fir, douglas fir-larch, hem-fir, and southern yellow pine lumber, treated wood products, medium density fiberboard panels and plywood, oriented strand board, and laminated veneer lumber wood products, as well as particleboards.